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Giant Insight #9

13-02-2019

We’re glad to see that more and more people are paying attention to Giant. I, Mikhail Maximov, Giant Community Lead, would like to tell more about why it’s important and how we all can improve the project even further.

It’s no secret that an innovative business has its own distinctive features. Companies are driven by the ‘winner takes all’ mentality. The new-found solutions can rapidly expand their usage, become the market locomotives and accelerate the enormous market capitalization growth. Despite this fact, we shouldn’t forget about 90% of companies that turn out bankruptcy. Typical reasons may include an investments deficiency, a wrong business model and an incorrect risk assessment.

We were perfectly realizing all these realia when we launched Giant. Our task was to increase the project chances for success with the help of a unique framework. Its purpose is to provide an opportunity for every interested person to share their expertise for the benefit of the project which will positively affect the Giant Coin investments of the proposer. Quite naturally, the Giant success is in the best interest of each member of the community. The same incentives are working for the Giant Team that didn’t attract any investments from big establishments at the start and has good entrepreneurial spirit.

Our team has set rather ambitious goals at the beginning, and it works to deliver on their implementation. The Giant Contracts technology can be applied in many various industries. The proof of viable business model - Giant.Exchange - is under active development as you read these words. Giant has no limits if we remember how big the binary options market and other economic fields are. However, innovative ideas have to benefit from product development. The Giant team consists of talented programmers with several various areas of expertise led by Dmitry Filinberg who is competent enough to coordinate all their work.

Another aspect of our activities is business development where the Giant Community can play a major role. Community Governance will become a crucial part of the Giant infrastructure and this will make active community contribution a reality.

We are not willing to introduce Governance Mechanism just because it’s a standard among masternode cryptocurrencies. Giant Project has an easy-to-understand use case and a long-term development strategy. To realize the latter, we are going to seek assistance from the people who have an experience in business and marketing. Community Governance which will include but will not be limited to superblock budget allocation is a future tool that will allow to invest your own expertise in Giant. The Giant Coin emission will benefit those who contribute to the project. Giant Contracts addition to the Governance mechanism will open up a door to performance-based funding of various initiatives — a much wider range of topics than you usually can see on other crypto projects’ governance platforms today.

One Governance proposal author has requested additional time to modify the Treasury structure in order to achieve these goals. We agreed due to the following reasons:

  • The current stage of the project is dedicated to development of our product and marketing research. This limits the range of new quality proposals that could directly benefit the project after review;
  • A Giant Contract is a necessary element of a unique Governance mechanism we aim to create. The system of smart contracts has to be released first;
  • Such a major update needs to be launched in a testnet first in order to prevent vulnerabilities.

However, we endorse a contribution to the project in several non-programming areas. For that purpose we will break down our strategy into separate tasks that can be completed with your help.